ACC 6350 Governmental and Not-for-Profit Accounting

This course provides an overview of accounting for state and local governments and not-for-profit organizations. It emphasizes issues related to fund accounting, budgetary control, and financial reporting for these entities.

Credits

3 sh

Prerequisite

ACC 3330 and MSA Graduate Admission

Offered

Fall or Spring

1. Students will be able to compare and contrast financial reporting objectives of governmental and other nonprofit organizations in contrast to those of commercial organizations.
2. Students will be able to evaluate the major components of a comprehensive annual financial report (CAFR) of a state or local government.
3. Students will be able to analyze the theory and purpose of ‘fund accounting’ and apply fund accounting principles to the recording of monetary transactions of state and local governments and other nonprofit organizations.
4. Students will be able to explain and apply the unique modified accrual basis of accounting used by state and local governments and certain types of other nonprofit organizations.
5. Students will be able to apply the budget accounting and financial reporting required of state and local governments.
6. Students will be able to analyze and record, in the appropriate fund, the common monetary transactions of state and local governments in accordance with standards set by the Governmental Accounting Standards Board.
7. Students will be able to explain and apply the generally accepted accounting principles relating to specialized forms of nonprofit organizations including colleges and universities, hospitals and other nonprofit health and welfare organizations.